Infosys reports Q4 results: Here's what brokerages have to say

SUMMARY

IT services major Infosys on Wednesday reported a net profit of Rs 5,076 crore for the March quarter, as against the CNBC-TV18 poll estimates of Rs 5,130 crore. The company said that it expects FY22 revenue to grow 12-14 percent in constant currency. After the results, brokerages remained bullish on the stock. JPMorgan is 'overweight' on the stock while CS has an 'outperform' rating. Here's what brokerages have to say:

By Pranati Deva Apr 15, 2021 8:56:35 AM IST (Published)

JPMorgan: The brokerage maintains an 'overweight' call on the stock with a target at Rs 1,700 per share. It said that FY22 guidance was largely in line with expectations. It expects Infosys to continue outpacing peers in FY22.

Credit Suisse: The brokerage continues to have an 'outperform' call on the stock but has cut its target to Rs 1,725 per share from Rs 1,810 earlier. It said that Q4 was an unimpressive quarter and believes FY22 guidance appears conservative.

CLSA: The brokerage maintains a 'buy' call on the stock with a target at Rs 1,660 per share. It said that the company is its preferred play on growing digital spend and market share gains.

Goldman Sachs: The brokerage maintains a 'buy' call on the stock with a target at Rs 1,699 per share. Any correction would present an even better buying opportunity, added the brokerage.

Macquarie: The brokerage maintains an 'outperform' call on the stock with a target at Rs 1,680 per share. Strong deal closures in FY21 set the stage for robust double-digit growth in FY22, it added.